TotalEnergies announces the completion of the merger between NEO NEXT and TotalEnergies’ UK upstream oil and gas business.

The combined group is renamed NEO NEXT+ and TotalEnergies holds a 47.5% shareholding interest in it.

Further to this transaction, NEO NEXT+ becomes the largest independent oil and gas producer on the UK Continental Shelf with an expected 2026 production of over 250 000 boe/d.

“The completion of this merger and the creation of NEO NEXT+ marks an important step in TotalEnergies’ long-term commitment to the UK oil and gas sector. While contributing to the country’s energy supply, the size and asset portfolio of NEO NEXT+ will foster synergies and enhance the cash flow generation of the company”, said Patrick Pouyanné, Chairman and CEO of TotalEnergies. “As the new largest shareholder of NEO NEXT+, we are pleased to bring our extensive UK North Sea operational experience to the new company.”

Read the article online at: https://www.oilfieldtechnology.com/special-reports/31032026/totalenergies-completes-the-merger-of-its-uk-north-sea-upstream-assets-with-neo-next/

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